Chevron-Texaco Talks on Merger
Have Stalled, but Aren't Dead Yet

Talks between Chevron Corp. and Texaco Inc. have stalled as little progress has been made toward a potential merger between the two oil giants, people familiar with the negotiations said.

It has been nearly three weeks since it was reported that Chevron was in early discussions to buy Texaco for about $42.8 billion. While the deal isn't dead, and some conversations among the parties and analysis of a potential deal continue,...